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Monday, Jul 16
2012, 12:03 PM
The U.S. is already in recession, says Ambrose Evans-Pritchard, citing the Economic Cycle...
The U.S. is already in recession, says Ambrose Evans-Pritchard, citing the Economic Cycle Research Institute, adding that the Fed has "drifted into fatalism." The risk is that the Fed is repeating the errors of early to mid 2008 "when failure to respond turned a common garden recession into a disaster." Bernanke's at fault for that. What's needed now is "nuclear force" to drive GDP up to 5%.